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Innova Capital, a Central European private equity fund, and the European Bank for Reconstruction and Development (EBRD) are investing in EnergoBit Group, an electrical engineering services company in Romania. Innova Capital, a Central European private equity fund, and the European Bank for Reconstruction and Development (EBRD) are investing in EnergoBit Group, an electrical engineering services company in Romania. Innova Capital, a Central European private equity fund, and the European Bank for Reconstruction and Development (EBRD) are investing in EnergoBit Group, an electrical engineering services company in Romania. Innova Capital, a Central European private equity fund, and the European Bank for
Buy and build add-on activity in Europe has been even weaker than the subdued levels seen in H1 2012, and well below the same quarter in 2011, according to Silverfleet Capital and mergermarket’s Buy & Build Monitor for Q3 2012. The volume of buy and build activity in Europe in Q3 2012 was slightly below the level seen in H1 2012, with only 50 add-ons completed in the quarter, compared with 142 add-ons in H1 2012 and 85 add-ons in the same quarter last year. This represents one of the weakest quarters since the nadir in mid-2009. The average disclosed
Ruth Lea, Arbuthnot Banking Group
Ruth Lea, Economic Adviser to the Arbuthnot Banking Group, discusses aspects of the forthcoming Autumn Statement, due on 5 December… It is universally expected that the accompanying economic growth forecasts by the Office for Budget Responsibility will be significantly downgraded as growth has disappointed since the March Budget. Reflecting the weaker economic performance, the public finances are deteriorating, which has implications for both of the Chancellor’s fiscal rules. Concerning the Fiscal Mandate it is likely that the balancing of the cyclically-adjusted current budget will be achieved in FY2017 rather than in FY2016. But Mandate will still be “met”. The Supplementary
Following its investment in December 2011, MMC Ventures has led another GBP800,000 round of investment into Love Home Swap, the international holiday home exchange website founded by serial entrepreneur Debbie Wosskow.  Love Home Swap has appointed David Kelly as chairman (Amazon, Lastminute, eBay, mydeco, Rackspace) and Sean Cornwell (Google, eHarmony) as non-executive director.   Love Home Swap launched in 2011 to provide members with the opportunity to swap their homes with stylish residences across more than 100 countries – enabling people to holiday like a local by staying in inspiring homes around the world for free. Whether a Parisian loft
Claranet, a European managed service provider, has acquired Star, a UK provider of managed technology services. The acquisition creates the largest mid-market provider of integrated hosting and network services in the UK and continental Europe. Claranet is acquiring STH and its subsidiary, Star Technology Services, in a deal valued at GBP55m. The trading entities will be maintained and will become wholly owned by Claranet. Charles Nasser, chief executive and founder of the Claranet Group, says: “From a market and customer perspective, this is a great opportunity to bring together the experience and resources of two great companies to deliver a
New York skyline
Mayfair-based Murano Systems is planning to open an office in New York in the spring of 2013. This will be the boutique company’s second office and will offer the same asset-raising services as the company’s existing London operation. Murano’s way of streamlining the asset raising process caters to both investors and funds. The core business is identifying investors who are potentially interested in the specific characteristics their fund clients have on offer.  The firm works with funds, funds of funds and private equity houses of all sizes to help them find and identify investors. Murano’s team of analysts call investors
Kohlberg Kravis Roberts is to acquire speciality insurance brokerage firm Alliant Insurance Services from Blackstone. Terms of the transaction have not been disclosed. Tom Corbett, chairman and chief executive of Alliant, says: “This transaction marks the next phase of Alliant’s growth and offers us an exciting opportunity to continue to build the business and offer best in class products and services to our clients. We are pleased to be partnering with KKR and appreciate the positive role that private capital can play in helping us manage our business and execute a growth strategy. This transaction will enable Alliant to remain
Australia map and flag
In spite of the difficult macroeconomic climate – hampered by the European and American debt crises – Australian private equity and venture capital transaction value and volume remained consistent in 2012, according to the fourth annual AVCAL/Pacific Strategy Deal Metrics survey. Respondents to the survey, which covers AUD77.7bn worth of transactions conducted by 170 funds between FY06-FY12, are confident that the deal pipeline in FY12 has improved on FY11, driven by increased succession pressures and converging price expectations. Market caution though, saw assets exchange for slightly lower multiples in FY12. However, a common theme emerging from the surveys was that
CO2 emissions
The European Energy Exchange (EEX) has launched trading in new short-term power derivatives, the Phelix Day and Weekend Futures. The new Day and Weekend Futures complement the existing cash settled Phelix Futures for Germany/Austria available for trading on a weekly, monthly, quarterly and yearly basis, closing the gap between the Spot and Derivatives Market. The launch is in response to the trend towards more flexibility and short-term trading on the Derivatives Market. EEX develops, operates and connects secure, liquid and transparent markets for energy and related products on which power, natural gas, CO2 emission allowances and coal are traded. The
Hogan Lovells has advised Hay Tor Capital on its acquisition of a majority shareholding in Neonet from Nordic Capital Fund VII. The transaction was announced on 16 November 2012. Neonet is a Swedish independent brokerage/execution service provider at the forefront of electronic trading. Hay Tor Capital is a specialist financial services investor. A consortium of KAS BANK and Neonet’s management also acquired minority interests in Neonet. The Hogan Lovells team advising Hay Tor Capital was led by London private equity partner Philip Watkins (pictured), supported by associate Victoria Rodley. Watkins says: We are pleased to have advised Hay Tor Capital

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